Manchester-based online fashion giant Boohoo announced it recently made a strategic investment in Revolution Beauty Group plc “amounting to a direct interest as at the close on 12 August 2022 of 7.1% of Revolution Beauty’s issued share capital.”

Revolution Beauty Group shares rose about 30%.

Boohoo said: “The investment builds upon the existing relationship between boohoo and Revolution Beauty, under which Revolution Beauty products are sold through several of the group’s direct to consumer brand websites and its online digital department store, Debenhams.

“The investment reflects Boohoo’s belief in the growth potential of Revolution Beauty and it intends to be a supportive stakeholder and long-term partner.”